CHINA SHIPPING SHELVES PLAN FOR ASIA/MED/U.S. EAST COAST SERVICE

CHINA SHIPPING SHELVES PLAN FOR ASIA/MED/U.S. EAST COAST SERVICE    China Shipping Container Lines has postponed a plan to combine its U.S./Mediterranean and Mediterranean/Asia container services into a Asia/Mediterranean/U.S. East Coast/Mediterranean/Asia “pendulum” weekly service.
   The combined service was due to be implemented in June, creating a new all-water connection between the U.S. and Asia via Suez.
   But a spokesman for China Shipping said that senior company executives in Shanghai had “second thoughts” in light of the market situation.
   The two separate loops — U.S. East Coast/Mediterranean and Mediterranean/Asia –will now be retained. The weekly Asia/Mediterranean service uses nine ships and the U.S./Mediterranean loop employs four vessels sailing about every 10 days.
   However, China Shipping said that the U.S./Mediterranean service will be upgraded to a fixed-day weekly frequency in mid-August.